Minister of Trade and Industr Ahmed Samir stressed that Bulgarian investors could benefit from the great investment advantages offered in the Egyptian market.
This came during the minister’s meeting with Deyan Katratchev, Bulgarian ambassador to Cairo to discuss enhancing economic and trade cooperation during the comming period, and to review a number of issues of common interest.
Samir said during the meeting, that the investment advantages offered by investing in the Egyptian market include the availability of qualified workers and Egypt’s association with preferential trade agreements with a large number of countries and economic blocs, which allow easy access to foreign markets for products manufactured in Egypt.
He added that during the meeting, the results of the exploratory mission headed by the Egyptian Ministry of Trade to Bulgaria during September 19 and 20 were reviewed, and representatives of a number of concerned parties participated in it to attract investment opportunities and raise the level of cooperation between Egypt and Bulgaria in the fields of renewable energy, artificial intelligence, the automobile industry and the industries that feed it.
He explained that the Ministry recently prepared a list of 152 investment opportunities to manufacture production requirements in which Bulgarian businessmen can establish industries, which contributes to the localization of the local industry and the transfer of long-standing Bulgarian industrial expertise to the Egyptian market, in addition to joint manufacturing opportunities in Egypt and Bulgaria.
He added that Cairo will host next month the activities of the third edition of the African Intra-Trade Exhibition, which is organized by the African Export-Import Bank in cooperation with the African Union and the Secretariat of the African Continental Free Trade Agreement. It is expected that 75 countries and 1,600 exhibitors will participate, and commercial and investment deals will be concluded, which represents a unique opportunity for investors from Bulgaria.
He expressed his welcome to the Bulgarian Minister of Economy's upcoming visit to Cairo next December, which is expected to include a delegation of Bulgarian companies to discuss opportunities for trade and investment cooperation between the two sides, noting the possibility of holding the next session of the Egyptian-Bulgarian Business Council and holding an Egyptian-Bulgarian business forum on the sidelines of the visit.
On his part, the Bulgarian ambassador stressed his country's keenness to raise economic and investment relations with Egypt to distinguished levels, as it is one of the pivotal countries in the Middle East and Africa region, stressing the necessity of diversifying the structure of bilateral trade between Egypt and Bulgaria to rise to the level of historical relations.
He pointed out the possibility of benefiting from the Bulgarian market as a gateway for Egyptian products to the continent of Europe, and benefiting from the Egyptian market as a hub for Bulgarian exports to enter the markets of African countries, indicating the possibility of Egypt benefiting from Bulgaria as a source of wheat.
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